16027 Ventura Blvd., Suite 604 Encino, CA 91436 Phone: (818) 465-9085 Email: email@example.com
A Regional Center is a private enterprise approved by the U.S. Citizenship and Immigration Services (“USCIS”) with a defined development program within a defined geographical area. Under the EB-5 immigrant investor pilot program, an alien and members of his immediate family can become eligible to obtain United States resident status and eventually citizenship by investing at least $500,000 in a project that benefits the U.S. economy by creating at least 10 new jobs per investor.
The procedure for obtaining an EB-5 permanent resident card (commonly referred to as a green card) is relatively straightforward. Upon the alien investor investing a minimum of $500,000 in an approved Regional Center project, a petition for alien entrepreneur (Form I-526) is submitted by the alien investor to the USCIS. Said petition should be prepared by a licensed attorney specializing in immigration law. The USCIS will take approximately 4-6 months to act upon said petition by approving or denying the same and/or by making a request for additional information or documents. If and when the USCIS grants the application, the USCIS issues a conditional permanent residence card to the investor and members of his immediate family (i.e., spouse and minor children). This is good for two years. After the passage of 21-24 months, the immigration attorney should file an application (Form I-829) to remove the conditions so that the alien investor and members of his immediate family can have a permanent residence card. Then, approximately five years after the issuance of said card, the investor receives the return of his capital investment, and may apply for US citizenship.
It takes approximately 6-12 months for Applicant ⁄ Investor to get petition approved. At this point
the Applicant has a comfort level they will receive conditional ⁄ permanent Green Card.
It takes approximately 12-18 months for Applicant ⁄ Investor to receive conditional ⁄ permanent resident status (2yr conditional Green Card).
The entire process for obtaining a Permanent Green takes 3+years from I-526 filing to I-829 approval Once a I-526 petition is filed there is what is described as a quiet period. It can take 6-12 months for the USCIS to adjudicate a file for this important first step. Once a I-526 has been approved applicants attorney will do one of two things depending upon where applicant is living at the time.
The applicant’s attorney will file an I-485 Adjustment of Status for applicant. Once that is approved applicants’ official Permanent Resident cards will be ordered and on the way to applicant.
Applicant I-526 is approved Applicant’s attorney will file an application for Applicant with the National Visa Center requesting an appointment for applicant and family at the closest American Consulate to Applicant’s home.
The Applicant must attend the consulate with their family for a typically very short meeting where Applicant will be asked some simple questions and then the consular officer will tell when Applicant’s passports will be ready with the entries in them permitting Applicant to enter the USA as new permanent residents. Applicant must do this within 6-months of issue.
After Applicant has been a permanent resident for 21 months Applicant’s attorney, together with the regional center will need to prepare and submit your I-829 petition so that the conditions of Applicant’s permanent residence can be removed.
The investment required of each individual alien investor is $1,000,000. However, if the development project proposed by the Regional Center is located in a geographic area that qualifies as Targeted Employment Area (TEA), the investment required is $500,000. A TEA is defined as a geographical area that has experienced “high unemployment” (at least 150% of the national average) at the time of making the investment. Each investment (either $1,000,000 or $500,000) must lead to the creation of at least 10-new direct or indirect jobs. In addition, each alien investor will be required to pay approximately $50,000 to cover legal fees to be paid to his immigration attorney, administration fee to USGRC and the filing fees to be paid to the USCIS.
• Investment $500k
• Regional Center admin fee $40k
• Eb5 attorney fees $10k to $15k depending on which attorney is used.
• Eb5 application fee $1,435 plus $380 per family member fee to National Visa Center.
• Finally $145 medical fee per adult & $125 per child under 15 yrs old
The Administrative Fee ( or sometimes referred to as syndication fee), paid in conjunction with the investment is charged by the Regional Center, it will be used to meet expenses for which Regional Center is responsible for such as: general administration, overhead, and marketing expenses.
In exchange for an investment of not less than $500,000, each investor will be a limited partner in a Limited Liability Partnership (LLP). The LLP will make a loan to the hotel development project in an amount equal to the total `amount invested by all investors. Said loan will be evidenced by a promissory note. The loan funds shall be available to fund the construction of the hotel.
USGRC intends to be competitive with other EB-5 regional centers regarding the amount of interest it pays to its investors through the LLP; presently the interest rate is estimated to be between 1% to 2% per annum for the 5 year period of the investment. The interest over said period will be sufficient to offset nearly all of the attorney’s fees, administration fee to USGRC and filing fees that each investor will incur in the process of obtaining immigration benefits through the EB-5 investor pilot program.
Upon request, the USGRC will help each alien investor by recommending the services of a qualified immigration attorney with whom the USGRC has a working relationship. The USGRC shall communicate and fully cooperate with any attorney selected by the alien investor (whether or not recommended by USGRC) in an effort to gain the approval of the USCIS in an expeditious fashion.